Osprey Private Wealth LLC Has $3.27 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Osprey Private Wealth LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,522 shares of the software company's stock after buying an additional 1,490 shares during the quarter. Adobe makes up about 1.9% of Osprey Private Wealth LLC's holdings, making the stock its 23rd biggest position. Osprey Private Wealth LLC's holdings in Adobe were worth $3,268,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Sepio Capital LP raised its holdings in Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after buying an additional 22 shares in the last quarter. Cadence Bank increased its stake in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares during the period. Eagle Strategies LLC increased its stake in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the period. RB Capital Management LLC increased its stake in shares of Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares during the period. Finally, Orin Green Financial LLC increased its stake in shares of Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Evercore ISI reiterated an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a research note on Friday. Oppenheimer dropped their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research note on Friday. Morgan Stanley dropped their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $494.67.

Adobe Price Performance

NASDAQ ADBE traded down $22.00 during trading on Friday, reaching $391.68. 10,618,205 shares of the company traded hands, compared to its average volume of 3,427,239. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock's 50 day moving average price is $385.73 and its two-hundred day moving average price is $422.64. The company has a market cap of $166.93 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the business earned $4.48 earnings per share. As a group, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.